Tuesday, June 9, 2009

CFA Level 1 - All that begins well ends well

A flash back of my preparation during the last three and a half months
June 7, 5 pm: “Stop writing, keep your pens down ...Any further writing will lead to violation of CFA code” …By this time I was quite convinced that my performance in CFA level-1 was couple of notches above what CFA would consider as a par to clear this level.

June 6, 10 pm: With my hands heavily clutched over my head, I was seriously looking into the notes of formulae’s and review material that I had prepared for myself.These notes came in really handy for the last minute preparations. It helped me concentrate on my weak areas. Thanks to Lokesh for providing me with a separate room for my preparation..Amazing hospitality!!

May 25, 10 pm: (After Chennai losing the semifinals).”Fuck...The IPL system is not fair…It should have been an all-league system and damn I have wasted 36 hours watching this bloody IPL …” …Came back to room and took my FSA material….”God….I don’t remember what is an Asset Retirement Obligation”…”55000 at stake…Long way to go…Come on…Scale up”..

May 15, 11 pm: Saikot to me “ whats happening to you??....So serious..You have 25 more days and you have already read the syllabus once completely”..Chill yaar..”You have been very consistent in your study schedule and you will easily crack the paper!!”
May 8 , 3 pm : In the tea shop , having my 5th tea of the day(after bunking the office for the third day in the last 20 days) and breaking my head over the spot rate and forward rate concept...Damn , Kill the mathematicians!!

May 4, 5 pm: Double checking my mail box to make sure that I’m not in the dream world ..”A mail from Prof Aswath Damodaran” wishing me on my birthday and also giving some valuable comments about my blog artcile which compared CSK players and finance…Wow...What better birthday gift I could have asked from my friends..Thanks to Arun,Arvind,Sangeetha and Suren..”On cloud nine …So no CFA preparation for the day”

Apr 25, 3 pm: Reading a blog article by a guy on his CFA December 2008 exam experience..As his blog puts it “CFA level 1 was much more difficult than I thought ... Serious and consistent preparation is the key to success “..Me: God, what’s this idiot telling..I called up my friend who took CFA Level 1 last June and is appearing for Level 2 this time. “You have to read the books…Scheweser materials might not be sufficient..At least I read the whole CFA materials twice”..To myself :Jesus….I’m gone…I’m reading just the Scheweser , that too still left with more than 30% of the portion..”I’m in the middle of nowhere

April 17, 8pm: (In Gurgoan) Mahendiran to me(First day of IPL): “Mumbai Indians are going to be the champions this time..It’s a very strong and balanced team..See the big names in the lineup..Nobody could match them”…For me it was the battle between CFA and CSK...Battle between brain and heart..Brain had to take the back seat..I cannot compromise on CSK matches for any reason!!

Apr 7, 8 pm: God…What are these people telling? …Market research on education sector..Presentation, Excel.And I also have to make the sales pitch…Damn ,This is too much…It’s already 8pm and I’m yet to be done for the day…When will I study for CFA?.
Feb 16th , 5pm : After all the placement debacles of seniors ,to myself “ My dear ..Now that you had a trailer for what could be your final placements scenario, its better you start doing something serious..CFA Level 1 might be a pretty decent value add to your CV ..If not anything, your level 1 experience will help you in gaining good knowledge about the subject…Go ahead

All in all its been a great experience in the last three and a half months of preparation for the exam.. I know for sure I crossed the line well before the ball hit the stumps. Just that the third umpire has to press the green button… which will happen on July 28th!!..Will keep you posted on the updates.

PS: The purpose of this article was two fold a)For my level 2 preparatiobn this will serve as an inspiration to me b) For all those who face difficulty while preparing for level 1 can breath easy after reading this blog because....The syllabus is meant to be tough and will test our nerves

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